Nifty around 17,850 mark; realty stocks advance
Published on Feb 10, 2023 14:38
The headline equity indices traded with limited losses in mid-afternoon trade. The Nifty traded near the 17,850 mark. Realty, media and PSU bank stocks advanced while metal, FMCG and IT shares corrected.
At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 153.05 points or 0.25% to 60,653.17. The Nifty 50 index declined 38.75 points or 0.22% to 17,854.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.02% while the S&P BSE Small-Cap index gained 0.53%.
The market breadth was positive. On the BSE, 1,831 shares rose and 1,549 shares fell. A total of 181 shares were unchanged.
Numbers to track:
The yield on India`s 10-year benchmark federal paper advanced 0.20% to 7.359 from 7.344 previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.4425, compared with its close of 82.5150 during the previous trading session
MCX Gold futures for 5 April 2023 settlement shed 0.05% to Rs 56,825.
The United States 10-year bond yield declined 0.17% to 3.677.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.09% to 103.12.
In the commodities market, Brent crude for April 2023 settlement advanced $1.83 or 2.17% to $86.33 a barrel.
The Nifty Realty index rose 0.83% to 412.65. The index shed 0.58% in the past trading session.
Godrej Properties (up 2.95%), Indiabulls Real Estate (up 2.86%), Prestige Estates Projects (up 1.91%), Sobha (up 1.55%) and Oberoi Realty (up 1.29%), DLF (up 0.83%) and Macrotech Developers (up 0.36%) advanced.
On the other hand, Brigade Enterprises (down 0.96%), Sunteck Realty (down 0.32%) and Phoenix Mills (down 0.01%) edged lower.
Stocks in Spotlight:
Zomato declined 2.94% after the food aggregator`s consolidated net loss for Q3FY23 widened to Rs 347 crore against Rs 63 crore registered in the same quarter last year. For Q2FY23, the net loss stood at Rs 251 crore. Revenue from operations zoomed 75% to Rs 1,948 crore year-on-year (YoY) as against Rs 1,112 crore in the corresponding quarter last year. Revenue climbed 17% as against Rs 1,661 crore in Q2FY23.
Sula Vineyards rallied 3.57% after the company`s consolidated net profit jumped 15.5% to Rs 39.28 crore in Q3 FY23 as against Rs 34.02 crore recorded in Q3 FY22. Revenue from operations (excluding excise duty) stood at Rs 190.75 crore in Q3 FY23, registering a growth of 11.7% from Rs 170.75 crore recorded in the same period last fiscal.
Sun Pharma shed 0.08%. The company announced that one of its wholly owned subsidiaries has received final approval from USFDA for its abbreviated new drug application (ANDA) for generic lenalidomide capsules, 5mg, 10mg, 15mg, 25mg and tentative approval for 2.5mg, 20mg.
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